Calvin's mathematics and statistics program can prepare you well to enter the field of actuarial science. In fact, an increasing number of Calvin students are choosing to prepare for this profession by following our recommended track of courses. These courses (listed below) will get you ready to take the actuarial exam.

What is an actuary?

Actuaries are professionals who construct and use mathematical models to evaluate the likelihood of possible future events and to design ways to reduce the negative consequences of possible outcomes of such events. A majority of actuaries work in the insurance industry, but actuaries can be found in any industry that requires careful planning for the future, especially in the presence of risk. A more detailed description of what an actuary does can be found here.

How to become an actuary?

TO become an actuary, you need to meet a series of requirements set by the <ahref="http://www.soa.org/">Society of Actuaries or one of the other more specialized actuarial societies. These requirements consist of educational experiences (college courses), a series of tests and some specialized short courses offered by the Society.

Typically, you will meet the educational experience requirements in college and take one or two tests before you graduate. After graduation from college, most prospective actuaries immediately take positions in the industry and continue taking tests while on the job. Most employers pay for these tests and many give paid time off to study for them. There are also graduate programs in actuarial science, but they are not necessary and a majority of actuaries do not follow this route.

How can Calvin prepare me to be an actuary?

At Calvin, you can take course work to meet all the educational experience requirements of the SOA as well as to prepare for the first test. This is typically all you need to get your first job in the profession. While you need not major in any particular discipline, the ideal preparation will include mathematics, business, economics and computer science courses. The following set of courses is recommended:

MATH-343 (Probability and Statistics) and MATH-344 (Mathematical Statistics). This sequence prepares a student for the first exam, Exam P.